August 10, 2011 - A recent Gartner study showing that CFOs are making 26 percent of IT spending decisions and CIOs are authorizing only 5 percent seemed to be dismal news for IT leaders. A conversation with John Beran, the just-retired CIO from Comerica, confims that it is. "The CIO should report to a CEO or a COO, not a CFO," Beran says. At Comerica, Beran originally reported to the bank's COO until that person retired and wasn't replaced, then he reported to the CEO.
The survey of 344 CFOs and other senior financial executives, which was conducted with the Financial Executives Research Foundation and Financial Executives International, showed that 42 percent of IT organizations report directly to the CFO, and 33 percent of IT organizations report to the CEO.
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